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Hero Electric to infuse Rs 1,200 crore in greenfield facility

Monday, 26 Sep 2022
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Hero Electric will set up a greenfield manufacturing unit at an investment of Rs 1,200 crore in Rajasthan. The facility, to be set up in the Salarpur industrial region, will be spread over 170 acre. 
 
The unit will have an annual capacity of two million units. It will also accommodate a vendor company that will invest an additional Rs 400 crore in the facility. 
 
The company had signed an agreement with the Rajasthan government for the facility earlier in September 2022 and it is likely to go on stream by the middle of 2023. 
 
The strategic location of the plant being within 100 km of Delhi airport and close to automotive clusters in the National Capital Region will ensure smooth connectivity and efficient logistics. 
 
The upcoming facility will be equipped with modern equipment, robotics and innovative technologies. The company also has a new manufacturing line in Ludhiana which will go onstream in another six months with a capacity of 2,50,000 units. 
 
Hero Electric has already commenced production at Pithampur in alliance with Mahindra & Mahindra to tap the increase in demand. To fund this expansion, the company has begun talks with the private equity investors to raise money. 
 
The company is also working with multiple partners in setting up over 100,000 charging stations across the country.
 
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